Nisa Investment Advisors LLC raised its holdings in shares of NVR, Inc. (NYSE:NVR) by 88.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 943 shares of the construction company’s stock after purchasing an additional 443 shares during the period. Nisa Investment Advisors LLC’s holdings in NVR were worth $3,178,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in NVR. Stifel Financial Corp increased its holdings in NVR by 39.8% in the fourth quarter. Stifel Financial Corp now owns 253 shares of the construction company’s stock valued at $616,000 after purchasing an additional 72 shares during the period. Geode Capital Management LLC boosted its position in shares of NVR by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 38,759 shares of the construction company’s stock worth $94,401,000 after purchasing an additional 2,058 shares in the last quarter. Norges Bank bought a new position in shares of NVR during the 4th quarter worth about $86,433,000. First Hawaiian Bank boosted its position in shares of NVR by 50.6% during the 1st quarter. First Hawaiian Bank now owns 646 shares of the construction company’s stock worth $1,787,000 after purchasing an additional 217 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new position in NVR in the 1st quarter valued at about $2,767,000. 78.22% of the stock is owned by institutional investors and hedge funds.
Shares of NVR stock opened at $3,490.00 on Friday. The firm’s 50 day moving average price is $3,426.59 and its 200-day moving average price is $3,101.65. The company has a quick ratio of 2.14, a current ratio of 4.29 and a debt-to-equity ratio of 0.32. NVR, Inc. has a 52-week low of $2,040.71 and a 52-week high of $3,582.99. The company has a market cap of $13.01 billion, a P/E ratio of 17.92, a PEG ratio of 1.61 and a beta of 0.65.
NVR announced that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In related news, CFO Daniel David Malzahn sold 951 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $3,562.49, for a total value of $3,387,927.99. Following the completion of the transaction, the chief financial officer now directly owns 3,522 shares in the company, valued at approximately $12,547,089.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eddie Arthur Grier sold 350 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $3,531.87, for a total transaction of $1,236,154.50. Following the completion of the sale, the director now directly owns 525 shares of the company’s stock, valued at approximately $1,854,231.75. The disclosure for this sale can be found here. Insiders sold a total of 29,301 shares of company stock valued at $101,083,857 over the last quarter. 11.10% of the stock is owned by company insiders.
Several brokerages have recently issued reports on NVR. Buckingham Research raised their price target on shares of NVR from $3,580.00 to $3,860.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Wells Fargo & Co boosted their price target on shares of NVR from $3,500.00 to $3,725.00 and gave the stock a “market perform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Evercore upgraded shares of NVR from an “in-line” rating to an “outperform” rating in a research report on Friday, August 9th. Evercore ISI upgraded shares of NVR from an “in-line” rating to an “outperform” rating in a research note on Friday, August 9th. Finally, ValuEngine cut shares of NVR from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $3,508.80.
NVR Company Profile
NVR, Inc operates as a homebuilder in the United States. It primarily constructs and sells single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers.
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